Do I need a Realtor to help purchase a new construction home?

By LINDSAY FRICKS

Do I need a Realtor to help purchase a new construction home?

It’s so exciting seeing new developments come back to the valley after a very long hiatus after the 2008 recession. This week I had a friend ask if they need a Realtor to purchase a new construction home. The short answer is “YES” and in this week’s blog I’ll share the long answer why.

Lindsay Fricks

Here are the top reasons why you need a Realtor on your team when negotiating and designing your new construction dream home:

  1. It’s Free
    • Let’s just get this out of the way…the buyer DOES NOT pay commission. In both residential resale and new construction the seller (i.e. the builder) pays the commission. This means it’s zero risk to you to make sure you have a qualified expert negotiating and protecting your interests. Word of Caution: Typically builders require your Realtor to be present from your very FIRST visit to the site. I know it’s tempting to looky-loo at model homes, but if you’re seriously considering a new construction home make sure your Realtor is involved from the beginning. 
  2. Protection
    • When you purchase a new construction home you’re buying from a corporation and not another homeowner. The terms and conditions in a new build property almost always favor the builder and not the consumer. A Realtor can help you interpret the confusing contracts and make sure that before you cross your t’s and dot your i’s that everything is legit. We also make sure you have the proper warranties and outside inspections to ensure your biggest asset doesn’t become a huge liability.
  3. Negotiation
    • The average Joe really only purchases 3-4 homes in their lifetime. The average professional, full-time Realtor assist clients with at least that many homes every year. We know what terms and conditions are more flexible for the builders and can use that to help you get the best price on your home…again, at no cost to you!
  4. Guidance
    • This is often overlooked, but people tend to go a bit crazy when it gets time to choosing finishes and upgrades in new construction…hello, yes I need that premium herringbone subway tile backsplash! Some upgrades make sense up front, but there’s a lot that can easily be done for way less immediately before move in. Realtors can guide you on what upgrades are the best bang for your buck and will make you money in the long run. 
  5. Peace of Mind
    • Buying a home can be pretty stressful and daunting at times. With new construction there can be delays, permit issues, inspections and repair problems. A Realtor acts as your coach, therapist (not joking), and mediator during the whole process which can get pretty lengthy and complicated. 
  6. You get to hang out with me!
    • At the end of the day is there anything better than spending more time with me??? Seriously though, I really enjoy helping my friends have the best home buying experience possible.

Have specific questions on New Construction versus residential resale? Drop me a note to help you decide what’s best for you!

Lindsay Fricks, Helping you, your family and friends Live and Love in Arizona!

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Median Home Price

$325,000

Annual Appreciation Rate

+7%

Estimated Population

450k

Median Age

34

East
Valley

why you want to live here

The two largest and most popular cities in the East Valley are Gilbert and Chandler. Once known for agriculture, the area has now been transformed into some of the most well known suburbs. Both cities have experienced tremendous growth in population and along with it now has all the amenities of larger cities. The suburbs are highly focused around families and have lots of parks, recreation and many family events year-round.

Median Home Price

$261,096

Annual Appreciation Rate

+8%

Estimated Population

1.6M

Median Age

33

Central
Phoenix

why you want to live here

Phoenix is the heart of The Valley of the Sun and capital of Arizona. Known for warm temperatures year-round and sprawling urban space surrounded by desert mountains. Phoenix is the 6th largest city in the US and home to nearly 1.6 million people. Phoenix has just about something to offer everyone: numerous golf course, professional sports teams, hiking trails, concerts, festivals and much more. With an affordable cost of living there’s a place for everyone with the Phoenix metro.

Median Home Price

$308,750

Annual Appreciation Rate

+8%

Estimated Population

174k

Median Age

28.5

Tempe

why you want to live here

Tempe is a city just east of Phoenix, in Arizona. Its striking Tempe Center for the Arts hosts concerts, dance and comedy shows. Nearby, Tempe Town Lake is dotted with kayaks, pedal boats and paddleboards. Tempe Beach Park hosts outdoor festivals. Rising above the city, Hayden Butte is a mountain dotted with centuries-old rock art. Sporting events and concerts are held at Wells Fargo Arena.

Median Home Price

$725,000

Annual Appreciation Rate

8%

Estimated Population

36,241

Median Age

39

Scottsdale

why you want to live here

Scottsdale has long had a reputation as one of the most affluent cities in the West most well known for high end golf, spas, resorts, restaurants and shopping. There are over 27 golf courses located within the Scottsdale boundaries. The Southern part of Scottsdale is home to the historic Old Town area. The southwestern charm, numerous restaurants, bars and shopping as well as exciting nightlight make Old Town a hot spot for both young and old. Central Scottsdale is home to many popular golf communities such as McCormick Ranch, Gainey Ranch and Kierland Commons.  North Scottsdale is home to to two of the valleys largest annual events: the Barrett Jackson Auto Auction and the Waste Management Open PGA tournament. These events along with the 5 professional baseball spring training facilities bring millions of visitors into the area throughout the Spring months.

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